Eli Lilly Completes Acquisition of Dermira for $1.1 Billion

Eli Lilly and Company announced on Feb. 20, 2020 that it has completed its acquisition of Dermira, a biopharmaceutical company focused on developing therapies for chronic skin conditions, for $1.1 billion in an all-cash transaction.

Eli Lilly acquired all outstanding shares of Dermira for $18.75 per share in cash and obtained any shares of the company that were not tendered into the tender offer through a second-step merger at the tender offer price following closing on Feb. 19, 2020, according to a company press release.

Through the agreement, Lilly will expand its immunology pipeline with lebrikizumab, Dermira’s novel, investigational, monoclonal antibody (mAb) designed to bind interleukin-13 with high affinity. The mAb is currently being evaluated for the treatment of moderate-to-severe atopic dermatitis in adolescent and adult patients, ages 12 years and older. The acquisition will also expand Lilly’s portfolio of dermatology medicines with the inclusion of Qbrexza (glycopyrronium) cloth, a medicated cloth approved by FDA for the treatment of primary axillary hyperhidrosis, a condition that causes uncontrolled excessive underarm sweating.

"We are pleased to complete the acquisition of Dermira and look forward to continuing their important work to develop new therapeutic options for patients with chronic skin conditions," said Patrik Jonsson, Lilly senior vice president and president of Lilly Bio-Medicines, in the press release.

Source: Eli Lilly